All Forum Posts by: Andrew Johnson

Yes it is a high loan amount and I made a mistake, but I am young and now I know I have learned from this and I will save myself later on. Kind of a plus there.

 I owe $28k versus the $23K it is worth, I am tight with money since I did this to myself so it might be a while before I have the negative equity saved up. I am afraid that as I try and try to save the value will just keep going down not letting me reach the selling point.

Hello BP! 

I want to thank you for the help.

I'm going to get to the point so i don't lose help. Basically i have a 500/mo auto loan and i want to know if it is worth it to walk away. I am in the learning phase of investing, i'm reading books and blogs trying to figure out what i can before i start.

To start out I know I need to have my finances in order so I cut back and save but that's not enough. I spend a ton of money on a vehicle I don't need so if i hurt my credit now is it worth it to save the money and start investing and come back from that ding in the future?

Also I would like to add, if this kind of question is not appropriate here let me know. I would like to follow the rules and stay with such a helpful community.

Thank You

I'm sorry, accidental repost. Still learning the new forum. Hello BP! I am trying to get myself into investing so I can make a better future for my family. Right now my problem is I don't have enough money to start and I can't really save and break away. I have a 500/mo auto loan that I don't need and never should have gone into but I wasn't thinking smart. My question is would it be worth it to walk away and take the credit punch or wait it out and not getting started.